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Denta Water and Infra Solutions Files IPO Papers for Rs 150 Crore Fresh Issue

14 Dec 2023 , 10:23 AM

Bangalore-based Denta Water and Infra Solutions have submitted draft papers to SEBI for an initial public offering (IPO), aiming to raise funds through a fresh issue of 75 lakh equity shares. The IPO is focused on water engineering, procurement, and construction (EPC) services, with an emphasis on groundwater recharging projects.

Key IPO Details:

  • Offer Details: Only a fresh issue of 75 lakh equity shares.
  • Pre-IPO Placement Consideration: The company may consider a pre-IPO placement of 11 lakh equity shares, impacting the fresh issue size if undertaken before filing the red herring prospectus.

Utilization of Funds:

  • Working Capital Requirements: Net fresh issue proceeds of Rs 150 crore allocated for working capital requirements.
    • Rs 50 crore in the current fiscal year.
    • Rs 100 crore in the next fiscal year.
  • General Corporate Purposes: Remaining funds utilized for general corporate purposes.

Ongoing and Completed Projects:

  • As of October 2023, Denta Water has completed 27 projects related to water management infrastructure development.
  • 22 ongoing projects with an aggregate contract value of Rs 984.23 crore.
    • Rs 976.7 crore for water management projects.
    • Rs 7.54 crore for infrastructure projects (railways and roadways).

Financial Performance:

  • Net profit for FY23: Rs 50.1 crore (up from Rs 38.3 crore in the previous year).
  • Revenue from operations for FY23: Rs 174.3 crore (up from Rs 119.6 crore in the previous year).

Order Book and Financial Expertise:

  • Outstanding order book: Rs 772.94 crore.
  • Completed work: Rs 211.3 crore out of the total contract value of Rs 984.23 crore.

Lead Manager:

  • SMC Capitals is the book-running lead manager for the IPO.
Denta Water and Infra Solutions

Related Tags

  • Denta Water and Infra Solutions
  • Denta Water and Infra Solutions DRHP
  • Denta Water and Infra Solutions IPO
  • Denta Water and Infra Solutions IPO details
  • Denta Water and Infra Solutions IPO SEBI
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